today boehner and nancy pelosi back to finger pointing. >> a lot of people know the president and i met on sunday. it was a nice meeting, cordial. but we're still waiting for the white house to identify what spending cuts the president is willing to make as part of the balanced approach that he promised the american people. you know, where are the president's spending cuts? the longer the white house walks the process, the closer our economy gets to the fiscal cliff. >> what i would do to respond to what the speaker has said, though, is to set the record straight. the fact is that the president has and democrats agree with him, agreed to over $1.5 trillion, $1.6 trillion in cuts and the budget control act and other acts of congress in this -- in this particular congress. $1.6 trillion in cuts. where are the cuts? they're in bills that you, mr. speaker, have voted for. >> so it all comes down to tax revenues and spending cuts. tom foreman gives us a virtual view of what is involved in negotiations. watch. >> what you're looking at in the room is everything the federal government spends m